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CooTek Sales From Google's Admob May Be Adversely Affected Amid Play Store Removal

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CooTek Sales From Google's Admob May Be Adversely Affected Amid Play Store Removal

CooTek (NYSE: CTK) shares are trading lower after the company acknowledged some of its apps have been temporarily disabled by Google (NASDAQ: GOOGL) from the Google Play Store and Google Admob.

The company denies allegations made by a media outlet that 58 of its apps submitted to Google Play in June 2019 engaged in malicious ad activity.

CooTek issued a statement that it takes the matter very seriously and is in continuous communication with Google to clarify the potential misunderstandings.

CooTek adds it has investigated internally, reexamined its apps and found no evidence to support the allegations.

On Wednesday, CooTek shares were trading down 2.12% at $8.97 at time of publication.

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